Stock of the day: Verizon

In today’s stock of the day, let’s focus on Verizon, which finally made a decisive move after weeks of consolidation. The breakout came on Thursday, and it was to the downside—an outcome that likely favors sellers in the near term.

For several weeks, Verizon had been trading within a symmetric triangle pattern, marked by converging black trendlines. This formation, often a precursor to a breakout, was signaling an imminent directional move. The market delivered its verdict last week when the price broke through the lower boundary of the triangle, triggering a technical sell signal.

The breakout was clean and convincing, not a quick spike followed by a re-entry into the pattern, but rather a sustained move below support. That kind of price action suggests strong bearish sentiment and implies that sellers are firmly in control. With this breakdown, the next logical target appears to be the purple support line—an area that held in both March and April and now serves as a key level to watch.

For those riding the bearish momentum, this support level offers a realistic profit zone. The path to that target looks increasingly likely, given the strength of the recent move. Of course, in technical analysis, nothing is set in stone. A full recovery above the broken lower trendline would invalidate the bearish setup. But given the firmness of the breakdown, the probability of that scenario is relatively low for now.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-verizon-2